Market Overview for SafePal/Tether (SFPUSDT) on 2025-12-18

Summary
• Price declined from 0.316 to 0.3074, forming bearish patterns like hammers and bearish engulfing near 0.312.
• RSI hit oversold territory near 30, suggesting potential short-term bounce, while MACD turned negative.
• Volatility expanded during late ET hours, with volume surging above 20,000 as price dipped below 0.31.
• Bollinger Bands widened during 20:00–05:00 ET, indicating increased bearish pressure and range compression.
• Fibonacci retracement levels at 0.3083 and 0.3065 appear to be key short-term supports to watch for a potential rebound.

At 12:00 ET–1, SafePal/Tether (SFPUSDT) opened at 0.3135 and traded between 0.316 and 0.3042 before closing at 0.3074 by 12:00 ET. The 24-hour volume was approximately 724,259 and the notional turnover was around 224,876 USD.

Structure & Formations

Price action over the 24-hour period showed a distinct bearish trend, particularly between 19:00–04:30 ET, with price falling below a prior support at 0.31 and testing lower levels. A bearish engulfing pattern emerged near 0.3125 at 20:15 ET, followed by a hammer at 0.3105 at 00:30 ET, which failed to ignite a rebound. A key support at 0.3083 was broken early on, and subsequent tests of 0.3071 and 0.3065 suggest these levels could act as temporary floors.

Moving Averages

On the 5-minute chart, price broke below both the 20SMA and 50SMA, confirming a bearish bias. While the daily chart data is not available, the intraday pullback near 0.3074 suggests short-term stabilizing behavior around 50-period MA levels. A retest of the 20SMA at 0.309 could trigger further selling pressure or consolidation.

Momentum & Indicators

RSI dipped below 30 after the 03:00 ET low, signaling an oversold condition and potentially setting up for a bounce. However, MACD turned bearish as early as 19:30 ET and remained negative, indicating sustained downward momentum. The MACD histogram expanded during the bearish phase, reinforcing the strength of the selloff.

Volatility & Bollinger Bands

Volatility expanded significantly during the overnight hours (ET) as price traded within a widening Bollinger Band range, reaching the lowest width contraction before a sharp bearish move. Price tested the lower band multiple times from 21:00–05:30 ET and broke below it at 05:30 ET, suggesting heightened bearish pressure.

Volume & Turnover

Volume increased notably as price declined, especially during the 19:00–22:00 ET and 05:30–07:00 ET periods, with several 5-minute candles recording over 20,000 in volume. This suggests aggressive selling pressure. Turnover aligned with these volume spikes, with no significant divergence noted, indicating strong price-volume confirmation of the downtrend.

Key Levels and Fibonacci Retracements

Fibonacci retracement levels from the 0.316–0.3042 swing showed 38.2% at 0.3099 and 61.8% at 0.3071. The price held at 0.3071 for a short time before breaking below, indicating that 0.3065 is now the immediate support. Traders should monitor a potential test of the 0.306–0.305 range for signs of a deeper correction or a potential bounce.

Price appears to be consolidating near 0.3074, and a rebound toward the 0.309 level could occur if buyers re-enter the market. However, a break below 0.3065 may accelerate the downtrend. Investors should remain cautious and monitor the RSI for signs of a potential overbought bounce or renewed bearish momentum.